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Mayor Fauson moved and Mohr seconded to accept the <br />1988 Audit by Bondi and Co. The motion passed 7- <br />0. <br />APPROVAL OF LETTER OF ENGAGEMENT <br />BONDI & CO. Late in 1986 staff had requested proposals for an <br />annual auditor. The RFP outlined that the City <br />would enter into a one (1) year contract with the <br />successful auditing firm, with the option of <br />yearly renewals for a period of three (3) years. <br />This RFP process will be initiated again later <br />this year as this is the third year the City's has <br />retained Bondi & Co to conduct its audits. <br />At the April 5th Finance Committee meeting, <br />members of the Finance Committee discussed the <br />engagement letter from Bondi & Co. and are <br />recommending that City Council approve the renewal <br />of their contract for 1989. As stated, the <br />finance Committee members also are recommending <br />that the Finance staff request proposals for <br />auditing and accounting services early in 1990 for <br />fiscal year 1990. The fee for the 1989 Audit <br />engagement is $16,900. Other accounting services <br />will be based on a rate schedule to be also be <br />approved. <br />Carnival moved and Scarpella seconded to approve <br />the Engagement Letter by Bondi & Co. for the <br />City's 1989 Audit. Motion passed 7-0. <br />ORDINANCE #991, SERIES 1989 - AUTHORIZATION TO ISSUE SEWER REVENUE <br />BONDS - 2ND READING, <br />PUBLIC HEARING Read by title only Ordinance #991, Series 1989, <br />"An Ordinance authorizing the issuance by the City <br />of Louisville, Colorado, of Sewer Revenue <br />Refunding Bonds, Series 1989, in the principal <br />amount of $3,035,000, for the purpose of refunding <br />valid and outstanding sewer revenue bonds of the <br />City; prescribing the form of the bonds; <br />providing for the payment of the principal of, <br />premium if any, and interest on the bonds from the <br />new revenue derived from the City's sanitary sewer <br />system; providing for certain proceeds on the <br />bonds and other legally available money to be <br />deposited in the separate escrow account for the <br />payment of the bonds being refunded; and providing <br />other details in connection therewith." Proof of <br />publication and notice of public hearing were <br />established. <br />Mayor Fauson opened the public hearing. <br />Russ Caldwell, Kirchner Moore and Co., detailed <br />the refunding of the City's sewer bonds and the <br />5 <br />